What is this product about?

Plate Glass Insurance is designed to indemnify you for accidental breakage of glass in your business premises as a result of unforeseen incident or misfortune.

This policy is suitable for retail shops, offices, showrooms and buildings with glass panel and structures.

What are the covers / benefits provided?

This policy covers breakage of glass including writing and ornamentation (if specifically insured) up to the amount insured by any cause other than those specifically excluded in the policy.

What is the Property Insured?

The interest insured under this Policy is the plate glass as described in the Policy Schedule and situated in the location of risk named in the Schedule of the Policy.

Period of Insurance

Duration of cover is for one year. You need to renew your insurance Policy annually.

How much premium do I have to pay?

The premium you have to pay may vary depending on the sum insured, nature of your business, occupation of the premises, the past claims experience and our underwriting requirements.

What is the payment mode and how do I pay the premium?

This is an annual policy and you may pay your premium in full either by cash or cheque or bank transfer.

What are some of the key terms and conditions that I should be aware of?

• Duty of Disclosure
  • - You must give all the facts which you know or ought to know.
  • - You must ensure that the proposal form is completed accurately as it forms the basis of the insurance contract.
• Sum insured
  You must ensure that your glass is insured at the appropriate amount.
• Claim Notification
  • - In the event of a claim, you must notify us as soon as reasonably possible, but no later than 14 days from the date of the accident.
  • - You must submit the claim documents to us within 30 days from the date of the loss or such further time as we may in writing allow.
• Deductible/Excess
  This is the first amount that has to be borne by you before we indemnify you of a loss.
• Premium Warranty
  Premium must be paid in full and received by us within 30 days from the inception date of the cover, otherwise the cover is automatically cancelled and you will still be responsible to pay the proportion of premium for the period we have been on risk.

What are the major exclusions under this policy?

1. The Indemnity granted under this Policy shall neither extend to, nor cover:
   1. Loss or damage directly or indirectly occasioned by, happening through or in consequence of earthquake, volcanic eruption, war, invasion, act of foreign enemy, hostilities (whether war be declared or not), civil war, rebellion, revolution, insurrection, strike, riot, civil commotion, military or usurped power, or confiscation or destruction by order of any Government or Public Authority or by any direct or indirect consequences of any of the said occurrences.
   2. i. Any accident, loss, destruction of or damage to any property whatsoever or any loss or expense whatsoever resulting or arising therefrom or any consequential loss directly or indirectly caused by or contributed to by or arising from ionising radiation or contamination by radioactivity from any nuclear fuel or from any nuclear waste from the combustion of nuclear fuel.
      ii. Any accident, loss, destruction or damage directly caused by or contributed to by or arising from nuclear weapons material.
   3. Breakage arising during removal or alterations to the premises.
   4. Frames or framework of any description, or the cost of removal of any fitting, fixtures or other obstructions.
   5. Interruption or delay or loss of business or damage of any kind occurring during the time intervening between the occurrence of a breakage and the replacement of the Glass.
   6. Cracked or imperfect glass unless specially declared as such and specifically included in the Schedule.
2. Sanctions Limitation and Exclusion.
3. Terrorism Exclusion.

Note: This list is not exhaustive. Please refer to the policy contract for the full list of terms and conditions under this policy.

What are the pre-acceptance conditions for this product?

• The property insurance must be placed with us.
• No claims for the past 3 years.
• Insured has never been declined, cancelled or refused coverage previously.

Can I cancel my policy?

You may cancel the policy by giving Us ten (10) working days’ notice in writing. Upon cancellation, you are entitled to a refund of the premium based on the unexpired period of insurance less 10% administration charge provided no claims have been made during the current policy period.

No refund of premium for any cancellation of policy if premium is charged on minimum premium.